Key Developments For Ingles Market Inc
Ingles Market Inc (IMKTA.O) (Nasdaq)
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated announced that its Board of Directors has declared a cash dividend of $0.165 per share on all its Class A common stock and $0.15 per share on all its Class B common stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable October 22, 2009, to all shareholders of record on October 8, 2009.
Ingles Markets, Incorporated Declares Quarterly Cash Dividend
Ingles Markets, Incorporated announced that its Board of Directors has declared a cash dividend of $0.165 per share on all its Class A Common Stock and $0.15 per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable July 23, 2009, to all shareholders of record on July 9, 2009.
Ingles Markets, Incorporated Completes Offering of $575 Million of Senior Notes
Ingles Markets, Incorporated announced that it has completed its previously announced offering of Senior Notes due 2017 in a transaction exempt from the registration requirements of the Securities Act of 1933. The offering was increased to an aggregate principal amount of $575 million from a previously announced offering size of $500 million. The unsecured Senior Notes bear interest at 8 7/8% and were issued at a price of 96.548%. Ingles intends to use a substantial portion of the net proceeds from the offering to purchase any and all of its outstanding 8 7/8% Senior Subordinated Notes due 2011 (the 8 7/8% Notes) which are tendered in the tender offer and consent solicitation. Today Ingles paid $340.4 million consideration for the approximately $335.8 million aggregate principal amount of Subordinated Notes that were validly tendered and accepted on or before May 11, 2009. Ingles will use the remaining cash proceeds from the offering to repay certain other debt, fund capital expenditures and for general corporate purposes.
Ingles Markets, Incorporated Sells $575 Million In Eight Year Senior Notes-Reuters
Reuters reported that Ingles Markets, Incorporated sold $575 million of eight-year senior notes in the 144a private placement market. The size of the deal was increased from an originally planned $500 million. Bank of America and Wachovia were the joint bookrunning managers for the sale.
Ingles Markets, Incorporated Announces $500 Million Notes Offering
Ingles Markets, Incorporated announced that it intends to offer $500 million aggregate principal amount of its senior unsecured notes due 2017 in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended. The Company intends to use a substantial portion of the net proceeds from the offering to purchase any and all of its outstanding 8 7/8% Senior Subordinated Notes due 2011 (the 8 7/8% Notes) which are tendered in the tender offer and consent solicitation announced separately today. Currently, approximately $349.75 million aggregate principal amount of the 8 7/8% Notes are outstanding. The Company intends to apply the remaining net proceeds from the offering to repay certain other debt, to fund capital expenditures and for general corporate purposes.
